The Lebanese Credit Insurer (LCI), represented by Mr. Karim Nasrallah, General Manager of LCI was invited to theHBOR’s 11th International Conference on Export Promotion. Mr. Michael McPhilimey, Advisor to the board of LCI also attended the conference. Anton Kovačev, President of HBOR’s Managing Board, Branimir Berković, HBOR Senior Executive Director and Ivanka Maričković‐Putrić, HBOR Senior Executive Director hosted this one-day conference at Falkensteiner Hotel & Spa ladera in Zadar, Croatia on Friday, 21st of September 2012. Radimir Čačić, First Deputy Prime Minister & Minister of the Economy was present as well as distinguished representatives from special financial institutions, ECAs and the Croatian Government.
Karim Nasrallah stated that “The Arab spring has definitely created a climate of uncertainty which has had a strong effect on risk appetite”.
“While banks have become very reluctant to finance the medium to small size enterprises we have seen an increase demand for alternative trade & export finance tools such as factoring” Says Mr. Nasrallah.

Michael McPhilimey answered the question “Have insurers from the region noted an increase in claims paid? In which sectors do you see most risks in the region?”  saying that “there’s an increase in delayed payments showing the buyers need for cash”. He added that the sector where he sees most risk in the region is in the retail industry.